Monday, December 3, 2012

Business News in Lehigh Valley - 12/3/12

Good morning and happy Monday! We hope everyone had a relaxing weekend, because it's time to get back in the swing of things! Today is the third day of December, and there are 28 days remaining in 2012.

In local news, Blue Mountain opened up for the ski season this past Saturday with limited runs and long lift lines, but that didn't stop hundreds from coming out and enjoying the first chance they could get to hit the slopes.

There's good news for those that heat their houses with natural gas: UGI announced that natural gas prices will drop about 4% this winter, reflecting declining wholesale prices across the industry.

Over the next three years, the Pennsylvania Department of Environmental Protection said it will begin accepting grants for its Natural Gas Vehicle Grant program, which will provide up to $20 million for the purchase and conversion costs of heavy-duty natural gas vehicles.

In national news, Congress is looking at the possibility of eliminating the $1 bill from production and replacing it with a coin, a move that could save the government about $4.4 billion over the next 30 years. The average dollar bill has a life is four or five years, whereas the life of a coin could be around 30 years.

Fiscal cliff talks seem to have gotten nowhere in recent weeks, with both sides of the aisle sticking firm to their beliefs. Democrats are not budging on the notion that taxes on the wealthiest Americans must rise, while Republicans want to fight that and instead they want to extend all of the Bush-era tax cuts, which expire at the end of the year.
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